The proposed Sustainable Cities Investment Fund, unveiled by Prime Minister Malcolm Turnbull on June 20, would take up to $100 million a year from the Clean Energy Finance Corporation to stimulate private sector investment in renewable energy and clean technology in Australia's major cities.
But industry groups say it means nearly one-third of the supposedly independent CEFC's budget has been corralled by the government for 鈥減et projects鈥 announced during the lead up to the election campaign.